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What will be the entry to retained earnings as a result

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Reference no: EM132652046

White Corp has outstanding 40,000 shares of $5 par value common stock. At year-end, the company declares and issues a 6% common stock dividend when the market price of the stock is $22 per share.

Problem 1: What will be the entry to retained earnings as a result of this stock dividend?

a $40,800 credit

b $12,000 debit

c $40,800 debit

d. $52,800 debit

Reference no: EM132652046

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